28 September 2022

Prospects for developing cooperation with the International Finance Corporation were discussed

On September 28 this year, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev met with the Director of the International Finance Corporation (IFC) for Europe and Central Asia Wibke Schlemer.

During the meeting, the progress of the implementation of current joint projects and prospects for the development of cooperation, bearing in mind the development of new investment initiatives, were discussed.

It was noted that IFC’s current portfolio includes 28 investment projects totaling $480 million in banking, finance, energy, textile, food, chemicals, furniture, and small and medium business development, as well as 5 projects under development for $474 million in the financial and energy sectors of the country.

The leadership of the IFC was thanked for technical assistance in the development of financial markets, support for PPP projects in the fields of agribusiness, transport, healthcare and energy, including international tenders for the construction of 3 solar power plants and a combined cycle power plant with a capacity of 1500 MW in the Syrdarya region and three solar power plants in Khorezm, Namangan and Bukhara regions.

The issues of attracting IFC consulting and technical support to the implementation of economic and structural reforms in Uzbekistan were also discussed, bearing in mind the transformation and privatization of state-owned enterprises and commercial banks. The IFC expressed its readiness to continue cooperation to improve the investment climate, increase the investment attractiveness of industries, as well as structural reforms aimed at accelerated industrial development.

Separately, the parties discussed the format of cooperation within the framework of joint work to ensure gender equality and the empowerment of women in Uzbekistan, including through the use of the We-Fi program to create conditions conducive to women’s entrepreneurship.

Following the meeting, a commitment was expressed to further interaction within the framework of the discussed projects and initiatives.